Jonathan Reynolds
Main Page: Jonathan Reynolds (Labour (Co-op) - Stalybridge and Hyde)Department Debates - View all Jonathan Reynolds's debates with the HM Treasury
(6 years, 6 months ago)
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Elizabeth Truss
We have made huge progress in the European negotiations. We are seeing business confidence increasing and investment increasing, and by this autumn we should have agreed a clear framework with the EU so that businesses have certainty about future investment.
Jonathan Reynolds (Stalybridge and Hyde) (Lab/Co-op)
The UK’s economic growth in the final quarter of 2017 was the weakest of any economy in the G7, and the OBR is forecasting that the UK is on course for our worst period of economic growth since the end of the second world war. However, none of these already dire forecasts factors in a no-deal Brexit, which would have a severe impact on jobs, growth and tax revenues. We know the Chancellor knows this; indeed, he has said so publicly. The question is: why are his colleagues not listening to him?
Elizabeth Truss
It is very important that in the negotiations with the European Union we always keep the option of no deal on the table; otherwise, we will not get the best possible deal. But we are very confident of achieving a good deal. Why is the hon. Gentleman not welcoming the fantastic economic news we have had this morning: the lowest unemployment—again—since 1975, and wages up by 2.8%? It seems to me that there are an awful lot of Eeyores on the Opposition Benches.